ESTABLISHING THE RIGHT ASKING PRICE

No matter how attractive and polished your house may be, buyers will be comparing its price with everything else on the market.  Your best guide is a record of what buyers have been willing to pay in the past few months for properties comparable to yours in the area.

I will provide you with a thorough comparative market analysis (CMA) with the data of all comparable homes in your area (sold, conditionally sold, expired, cancelled, active listings, etc).

Improper pricing is the most common mistake home sellers make.

Overpriced homes are not as competitive as those that are well priced.  In most cases, the higher the asking price, the longer it takes for a home to sell.  On the other hand, price it too low and you may give away thousands in profit to a total stranger.

The value of a home is determined by supply and demand.  If there are lots of sellers and few buyers, prices tend to go down and homes take longer to sell.  This is referred to as a Buyer’s Market.  When the opposite is true and there are lots of buyers but few sellers, then prices will rise and homes will sell quickly.  This is called a Seller’s Market.

The ultimate decision regarding how much to ask is yours.  But I strongly encourage you to not fall into the temptation of overpricing your property, as this will only cost you thousands of dollars in the long run.  Realtors don’t establish value, the market does. We mention this because many real estate agents may come to you and try to buy your listing by saying they can get you more for your home.  These attempts are done in hopes of securing the listing and coming back at a later date with a price reduction request.

Proper pricing sets the stage for the entire selling process. A great benefit to you is to get in the right frame of mind for the sale.  Be objective and remember that selling your home is a business transaction.  Keep in mind that potential buyers are not looking to buy your home – they are looking to find a house that they can make their home.